Chapter 6. Growth Opportunities and Strategic Analysis

The future of the global artificial intelligence market looks attractive with opportunities in the healthcare, security, retail, automotive, manufacturing, and financial technology (fintech) sectors. The global artificial intelligence market is expected to reach $71 billion by 2024 with a CAGR of 26% from 2019 to 2024. The major drivers for this market are increasing demand for virtual assistance for easy accessibility of services and growing adoption of cloud-based technology.

Emerging trends, which have a direct impact on the dynamics of the artificial intelligence industry, include growing adoption of artificial intelligence in IoT applications and increasing demand for AI-enabled processors.

A total of 106 figures / charts and 89 tables are provided in this 206 -page report to help in your business decisions. Sample figures with some insights are shown below.

Artificial Intelligence market by end use industry

Artificial Intelligence market

Artificial Intelligence market

The study includes the artificial intelligence market size and forecast for the global artificial intelligence market through 2024, segmented by end use industry, technology, product and service, and region as follows:

Artificial Intelligence Market by End Use Industry [ $B shipment analysis from 2013 to 2024]:

Some of the artificial intelligence companies profiled in this report include: Intel, IBM, Amazon, Facebook, NVIDIA, Apple, Microsoft, General Electric, and NEC Corporation and others.

Lucintel forecasts that the machine learning technology will remain the largest segment and it is also expected to witness the highest growth over the forecast period due to increasing adoption of this technology in the autonomous applications and growing consumer preference for IoT-enabled devices.

Within the artificial intelligence market, media and advertising will remain the largest application due to an increasing adoption of customer-centric marketing strategies and increasing use of social platform for advertisements. The healthcare segment is expected to witness the highest growth over forecast period due to advancements in clinical research and growing demand for electronics-based medical equipment and sensors in the healthcare applications.

APAC will remain the largest region and it is also expected to witness the highest growth over the forecast period due to the growing adoption of IoT (internet of things), increasing installation of smart home devices, and growing industrial automation in countries, such as China, India, and Taiwan.

Some of the features of "Artificial Intelligence Market Report: Trends, Forecast and Competitive Analysis" include:

Market size estimates: Global artificial intelligence market size estimation in terms of value ($B) shipment.Trend and forecast analysis: Market trend (2013-2018) and forecast (2019-2024) by end use and use industry.Segmentation analysis: Global artificial intelligence market size by end use industry, technology, product and service type in terms of value and volume shipment.Regional analysis: Global artificial intelligence market breakdown by key regions such as North America, Europe, and Asia & Rest of World.Growth opportunities: Analysis on growth opportunities in different applications and regions of artificial intelligence in the global artificial intelligence market.Strategic analysis: This includes M&A, new product development, and competitive landscape of artificial intelligence in the global artificial intelligence market. Analysis of competitive intensity of the industry based on Porter's Five Forces model.

This report answers following 11 key questions:

Q.1. What are some of the most promising, high-growth opportunities for the global artificial intelligence market by end use industry (media and advertising, security, automotive, healthcare, retail, fintech, manufacturing and others), by technology (machine learning, natural learning processing, and others), by product and service (hardware, software, and service) and by region (North America, Europe, Asia Pacific, and the Rest of the World)?

Q.2. Which segments will grow at a faster pace and why?

Q.3. Which regions will grow at a faster pace and why?

Q.4. What are the key factors affecting market dynamics? What are the drivers and challenges of the market?

Q.5. What are the business risks and threats to the artificial intelligence market?

Q.6. What are the emerging trends in this artificial intelligence market and reasons behind them?

Q.7. What are some changing demands of customers in the artificial intelligence market?

Q.8. What are the new developments in the artificial intelligence market? Which companies are leading these developments?

Q.9. Who are the major players in this artificial intelligence market? What strategic initiatives are being implemented by key players for business growth?

Q.10. What are some of the competitive products and processes in this artificial intelligence area and how big of a threat do they pose for loss of market share via product substitution?

Q.11. What M&A activity has occurred in the last 5 years in this artificial intelligence market?